Futures Quotations The following quotations for the cotton futures trading on the New York Cotton Exchange appear in today’s newspaper. How many of the March 1996 contracts are currently open? How many of these contracts should you sell if you wish to hedge 400,000 pounds of cotton for March delivery? If you actually make delivery, how much will you receive?
COTTON (CTN) — 50,000 lbs.; cents per lb.
|
Lifetime |
Open |
|||||||
|
Open |
High |
Low |
Settle |
Change |
High |
Low |
Interest |
|
|
Oct-95 |
83.75 |
85.9 |
81.16 |
83.19 |
0.85 |
99.54 |
58.72 |
30,129 |
|
Dec |
85 |
87.3 |
83.02 |
85.22 |
1 |
99.24 |
60.19 |
42,522 |
|
Mar-96 |
84.15 |
86.75 |
82.35 |
84 |
1.25 |
98.75 |
61.3 |
18,752 |
|
May |
83.42 |
84.55 |
82.16 |
83.68 |
0.66 |
87.67 |
74.14 |
8,616 |
|
Jul |
79.77 |
80.83 |
78.48 |
79.44 |
0.39 |
81.23 |
75.25 |
3,456 |
Est vol 19,000; vol Wed 11,313; open int 103,475, +255